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PENNSYLVANIA COMPANY v. WILMINGTON TRUST COMPANY

186 A.2d 751 (1962)

PENNSYLVANIA COMPANY, a corporation of the Commonwealth of Pennsylvania, Plaintiff, v. WILMINGTON TRUST COMPANY, a corporation of the State of Delaware, and J. Russel Coulter, Trustees under the Will of George P. McNear, Jr., deceased, Defendants-Third Party Plaintiffs, v. Elizabeth M. McNEAR et al., Third-Party Defendants.

Court of Chancery of Delaware, New Castle County.

December 12, 1962.

Attorney(s) appearing for the Case

John J. Morris, Jr., of Morris, James, Hitchens & Williams, Wilmington, for plaintiff.

Aaron Finger, of Richards, Layton & Finger, Wilmington, for defendant, Wilmington Trust Co., Trustee.

Samuel R. Russell, of Morford, Young & Conaway, Wilmington, and Philip W. Tone, of Thompson, Raymond, Mayer & Jenner, Chicago, Ill., for defendant, J. Russel Coulter, Successor Trustee.

Clair John Killoran, of Killoran & VanBrunt, Wilmington, and Stuart S. Ball, Richard J. Flynn and James G. Archer, of Sidley, Austin, Burgess & Smith, Chicago, Ill., for adult third-party defendants.

David Snellenberg, II, of Killoran & VanBrunt, Wilmington, Guardian ad litem for minor third-party defendants.

SEITZ, Chancellor.

One George McNear died testate in 1947, and under the terms of his will he created trusts for the benefit of his wife, their children, his three sisters and brother, and their children ("beneficiaries"). The Wilmington Trust Company ("Trust Company"), Central Hanover Bank and Trust Company (which declined to serve), and Guy A. Gladson ("Gladson") were named as trustees. The testator provided that the Trust Company was authorized to take any action...

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